There are plenty of perks to travelling—from learning about different cultures to meeting new friends. But let’s admit it: it can also be costly. You need enough money to book flight tickets, get decent accommodation, try local food and enjoy more adventures while away from home. Fortunately, we’ve got some tips. Here’s how you can start saving money for your next trip.
Set a travel budget
The first step in budgeting for a vacation is planning for it. You should first decide what you plan on doing while in the country. This way you can figure out where you want to live or whether you need to rent a car or hop on a train. Then, once you have a ballpark of the amount you need for the trip, start saving for it. You could divide your total cost by the time period you need to save it for and find out how much you need each week.
Get a side hustle
Consider making money on the side before your trip. It’s important not to let any opportunity slip past your fingers in this day and age—anything that can be turned into extra cash is encouraged, whether you have a special passion or like finding and selling pre-loved items. There are a lot of ways to fund travel nowadays. You just have to find one that works for you.
Track your spending with an app
Use an app like Mint to help track your daily spending. This should let you know where you are spending your money and allow you to save for a trip down the road. Some budgeting apps have clear sections for budgets, savings and taxes. Others even allow you to set a monthly budget and goal—and remind you whether you’re falling behind your objectives for the month.
Buy in bulk
Buying in bulk is not always the best option, but there are some items that you can buy in bulk and save lots of money. These include soaps, toilet paper, canned goods and shampoos. You should also take advantage of coupons and other grocery discounts. Even a discount that costs only a few dollars can take you one step closer to the travel budget you’ve set for your next trip.
Cut down on convenience
It’s undeniable that little purchases add up: a coffee pick-me-up in the middle of the afternoon, a packet of chips to hold you over until dinner or a newspaper to read during the commute. By the end of the month, these small purchases can start to add up quickly, especially if you are buying repeatedly. Consider reducing your impulse purchases by stocking up on those items you need on a regular basis. Bringing your coffee cup or snacks to work or skipping the daily trip to Starbucks can reduce the impact of buying convenience items too often.
Cook your own food
If you’re willing to pre-plan your meals for a week, you can save significant amounts of money on groceries. Here are more ways to save money on food shopping:
- Find and use coupons to save money on your weekly grocery.
- Plan your meals, so you don’t pick up unnecessary items while shopping.
- Always check the items in the cupboards to avoid buying too much extra food.
- Buy in bulk in discount stores.
Use price comparison sites to save money
Make sure to check price comparison sites for the best deals on whatever you need. That’s applicable both to your daily needs and travel necessities.
When comparing different travel deals, you can save a significant amount of money on your flights, hotel accommodations and even tours. Make sure not to miss out on any potential discounts and special offers. Explore the price comparison sites before purchasing anything.
Cancel your subscriptions
You probably have too many subscriptions. Check your bill and see if there’s one or two that you no longer need. Also, talk to your siblings and parents and convince them to switch from individual accounts to family subscriptions. Group and family accounts often offer huge savings.
Sell your scrap gold, silver or coins
There are a lot of ways to earn cash these days. One of them is to sell your old precious metals and coins. Companies online will buy gold, silver platinum and even some more rare types like palladium. If you have an old gold bracelet or luxury silver watch that no longer fits your style, you can sell them online. Many families also have coins and antiques lying around in the attic or basement. It’s worth having a full-house declutter to see if there’s anything that can be sold. There are a lot of “cash for gold” sites, so make sure you’re dealing with a reputable company.